=== Elemont FX ===
GBPJPY looks like it is about to breakout below a bearish flag pattern setup.
Look to go short when price closes below the structure
I know lots of people were short on GJ looking for a big break lower
Despite poor wage growth and retails sales in the UK the bulls are in control
This trade was entered on Monday and looked dangerous
Now we are laughing
GBPJPY is currently moving within an ascending triangle after major support around 149.000 was broken early in the month. If we are able to see one more move higher to test the 149.000 resistance (red box) I will look to sell this pair and go quite heavy! I can see the pair heading to 147.500 and if it breaks this level, we may see 144.000 within the next month or ...
This is my projection and view on this pair.
Long within channel and short till break the channel
Chart pattern : Bearish Flag (continuation pattern)
What do you think guyz?
Después de un impulso bajista, se ha estado formando una consolidación. En cualquier momento el precio romperá esa consolidación a la baja, y caerá haciendo un breakout de la tendencia y buscando rebote en la tendencia de abajo; el movimiento marcado con las flechas.
You have a potential bearish Gartley setting up on the GBPJPY. This will complete at 149.630. Minimum stops need to be above X, with target 1 at a 38.2 retracement and target 2 at a 61.8 retracement.
As always, make sure to follow your plan.
Good luck and good trading
GBPJPY is on an major uptrend. I expect price to continue and the bulls to take advantage and go long to the next key resistance level of 149.76 area.https://www.tradingview.com/x/batEQqm1/
Great level with lots of resistance . price has had lots time away from the last flip through the level and created space.
The violence of the resistance is from 70 to 200 pips.
Looking for a clean push through the level and rounded retest.
GBPJPY is forming Symmetrical triangle, Waiting for the breakout
Summary:
In the D1, the trend is UP and in the H4 and H1, the trend is down.
I am waiting for the breakout of the triangle to place my trade's.
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thank you!
GBPJPY is in a strong up trend. Price has pulled back to a major support zone and formed a bullish pin bar. there is a great opportunity to get long on this pair.
